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Your Best Investment

This compares the future value of the amount of money necessary for the down payment on a home using three possible alternatives: a certificate of deposit, a stock investment, and purchasing the home.

ScriptYou’re to be congratulated for having a down payment and qualifying for a mortgage. I talk to a lot of people who would love to take advantage of the low prices and interest rates but can’t qualify. My recommendation is to put your down payment away somewhere safe, so you’ll have it when you do decide to buy a home. If you were to put it in a CD, it would be safe and secure, but you wouldn’t earn much. If you could pick the right stock, you might make a little more. However, I want to remind you of something that I told you when we first started working together. A home is leveraged investment, and your down payment would grow to $XXX, XXX in the same period of time. Where do you think the best place for your money is?